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Brent futures for June fell by 43 cents, or 0.5%, to $88.92 a barrel by 12:15 p.m. EDT. Investors are analysing macroeconomic data and monetary policy for potential clues on the outlook for oil demand.
Brent futures rose $1.52, or 1.9%, to $81.56 a barrel at 12:40 p.m. (1740 GMT). U.S. West Texas Intermediate crude gained $1.44, or 1.9%, to $76.53. Geopolitical tensions in the Middle East and the disruption of shipping in the Red Sea corridor remained in focus.
Brent futures were up a cent to $79.11 a barrel at 11:41 a.m. U.S. West Texas Intermediate crude fell 9 cents to $73.99. For the week, the U.S. benchmark is on track to rise about 2% while Brent is set to gain about 1%.
Brent crude futures for February were up 15 cents, or 0.2%, at $73.39 a barrel at 1437 GMT. US West Texas Intermediate crude futures for January gained 18 cents, or 0.26%, to $68.79 a barrel.
Brent crude futures rose by 71 cents, or 0.9%, to $78.74 a barrel by 1457 GMT. U.S. West Texas Intermediate crude futures climbed 69 cents, or 0.9%, to $73.73.